Commodity Futures Trading Commission
The Commodity Futures Trading Commission ("CFTC" or "Commission") is adopting a final rule (the "Final Rule") amending certain of the Commission's business conduct and documentation requirements applicable to swap dealers and major swap participants. The Final Rule provides exceptions to compliance with such requirements when executing swaps that are intended by the parties to be cleared contemporaneously with execution, or subject to prime broker arrangements that meet certain qualifying conditions, and makes certain other changes discussed herein. The adopted amendments supersede certain no-action positions issued by the Commission's Market Participants Division ("MPD"), which the Commission expects MPD to terminate in due course.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Commodity Futures Trading Commission 17 CFR Part 23 RIN 3038-AF38 AGENCY: Commodity Futures Trading Commission. ACTION: Final rule. SUMMARY: The Commodity Futures Trading Commission (“CFTC” or “Commission”) is adopting a final rule (the “Final Rule”) amending certain of the Commission's business conduct and documentation requirements applicable to swap dealers and major swap participants. The Final Rule provides exceptions to compliance with such requirements when executing swaps that are intended by the parties to be cleared contemporaneously with execution, or subject to prime broker arrangements that meet certain qualifying conditions, and makes certain other changes discussed herein. The adopted amendments supersede certain no-action positions issued by the Commission's Market Participants Division (“MPD”), which the Commission expects MPD to terminate in due course. DATES: The Final Rule is effective January 29, 2026. FOR FURTHER INFORMATION CONTACT: Frank N. Fisanich, Deputy Director, 202-418-5949, ffisanich@cftc.gov ; Jacob Chachkin, Associate Director, 202-418-5496, jchachkin@cftc.gov ; or Dina Moussa, Special Counsel, 202-418-5696, dmoussa@cftc.gov , Market Participants Division, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: I. Background The Commission is issuing this Final Rule to amend certain business conduct standards for swap dea…
Citation: 90 FR 61226
